What Is Tezos (XTZ)? The Tezos blockchain has a storied history worthy of its own reality show.

What Is Tezos (XTZ)?

Tezos (XTZ) is an American smart-contract platform meant to host decentralized applications (dApps) on the blockchain. It dubs itself the last cryptocurrency you’ll ever need, and it does improve upon several initial flaws of Bitcoin upon its release. It uses a proprietary Michelson programming language to built a solid network that’s well funded. If it can only stop fighting itself…

Who Is Tezos?

The Swizterland-based Tezos Foundation controls all the Tezos funds. It’s headed by Ryan Jersperson after initial Board President Johann Gevers stepped down in February 2018. The Tezos code is controlled by former Morgan Stanley analyst Arther Breitman and his wife through a Delaware holding company called Dynamic Ledger Solutions. The drama that unfolded from this relationship made headlines. Click the link at the bottom of this article to learn more.

Use Cases of Tezos

Tezos has the same theoretical use cases as blockchain 2.0 projects like Ethereum and NEO. Based on Brietman’s background in investment banking and new Tezos Foundation CTO Roman Schnider’s pedigree at PriceWaterHouseCoopers, it’s likely this platform will be directed at the financial sector (or whatever the financial sector deems most profitable by the time they dig their way out of litigation and bad press.

How to Mine XTZ

XTZ is mined using a delegated Proof-of-Stake (dPoS) consensus. The process is called “baking” instead of “mining,” because it involves more of a democratized trust system than a typical PoW blockchain.

Learn More About Tezos

If you want to learn more about Tezos, I wrote a full coin intro guide at Crypto Briefing. Or you can learn more about other cryptocurrencies across Thought for Your Penny.

Versability

Dr. Brian Penny is a former Business Analyst and Operations Manager at Bank of America turned whistleblower, troll, and freelance writer. You can find his work in Cracked, High Times, HuffPost, Lifewire, Forbes, Fast Company, and dozens of other places, although much of it is no longer under his name. Dr. Penny loves annoying fake media.

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